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The Lucknow Development Authority has generated over INR 425 crore in its latest e-auction, marking one of its strongest revenue rounds to date. Several plots attracted aggressive bidding, with prices reaching nearly three times their reserve values. A notable example was a 75 sqm plot in Sector 5, valued at INR 28 lakh, which sold for INR 1.5 crore. LDA credits the success to a detailed land audit and drone survey that helped identify and clear illegally occupied parcels before auction. This momentum follows earlier e-auctions where LDA earned more than INR 450 crore. The auctions span residential and commercial plots, helping the authority monetise unused land and curb encroachments.
The Lucknow Development Authority (LDA) has recorded property sales of more than INR 425 crore in its latest e-auction, setting a fresh benchmark in its revenue drive. Several plots drew exceptionally high bids - in some cases nearly three times the reserve price - highlighting strong buyer demand and renewed investor confidence. Advertisement
One of the standout transactions was for a 75 sqm residential plot in Sector 5, which had been valued at INR 28 lakh but fetched INR 1.5 crore in the auction - a substantial premium by any standard.
LDA's leadership attributes this surge to a careful preparatory process. According to Vice-Chairperson Prathamesh Kumar, the authority conducted a thorough land audit, followed by a drone survey, to identify properties under illegal occupation. Once cleared, these parcels were made available for bidding.
This aggressive reclamation strategy is not new to LDA. In its previous e-auctions as well, the authority noted similar strong investor interest. For instance, in an earlier round, LDA reportedly earned over INR 450 crore, with commercial plots going 20-25% above their reserve prices.
The reclaimed and sold plots span both residential and commercial categories, underlining the breadth of LDA's auction strategy. Revenue from such e-auctions is playing a central role in LDA's efforts to monetise underutilised land and curtail illegal occupancy.
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